Drawings under Letters of Credit. (a) Upon receipt by the Administrative Agent of any draft upon, or other notice of drawing under, a Letter of Credit, the Administrative Agent shall promptly give the Borrower written or telephone notice of the amount of such draft, of the Letter of Credit against which it is drawn and of the date upon which the Administrative Agent proposes to honor such draft.
Appears in 3 contracts
Samples: Contribution Agreement (Planet Hollywood International Inc), Security Agreement (Able Telcom Holding Corp), Credit Agreement (Office Depot Inc)
Drawings under Letters of Credit. (a) Upon receipt by the Administrative Agent of any draft upon, or other notice of drawing under, a Letter of Credit, the Administrative Agent shall promptly give the Borrower written or telephone notice of the amount of such draft, of the Letter of Credit against which it is drawn and of the date upon which the Administrative Agent proposes to honor such draft.
Appears in 1 contract
Samples: Credit and Term Loan Agreement (Planet Hollywood International Inc)
